A good bill of health for FFANY, of which he has been the head for over 13 years, and prospects for the American footwear market which, nevertheless, must soon face the problem of increasingly costly Chinese production
In charge for more than 13 years of the footwear happenings of the East Coast and elsewhere (FFANY), Joe Moore is ready to hand over the reins next year. Although we doubt he will be far away from the world of footwear that has always been his passion. A sector in which, it must be said, he has spent his whole career.
Soon after graduating he started selling kids shoes in a store in Tulsa and then a trip to Los Angeles with some friends in 1957 became the turning point. He stayed in California and began selling Bullock’s women’s shoes. After that there was no stopping him: first of all Neiman Marcus, then as CEO for Charles Jourdan US and finally, before FFANY, Saks Fifth Avenue.
How is the situation in the American footwear trade?
The first quarter of this year was bad, mainly due to weather conditions that did nothing to motivate sales of summer sandals. On the other hand, the following 3 months have been pretty good, enough to make one forget the initial difficulties. All in all I would say it’s a positive period, proved also by the enthusiasm with which buyers participated at the June edition of FFANY. I’d say this is maybe the best moment we have seen for some time.
The US economy is growing slowly but it is growing. All the key economic factors are showing up trends, from employment to construction
Do you think this good situation could have a positive effect on import of European shoes?
The Americans have always dreamed of wearing European shoes, that are particular and well made, but the US is a market also focused a lot on price at present. This isn’t true of the luxury segment, of which Italy is the “queen”, but I think the top range only represents a minimal part of the trade, important for trends and image but unable to generate big numbers
What state of health is FFANY in?
Fairs have changed a lot in latter years. We no longer see an invasion of buyers. Department stores have joined forces, buying up other department stores… That means fewer visitors at fairs, not less shoes sold but just that there are fewer people buying large quantities of footwear. Obviously there are still independent buyers but their position is now considered a real bet and this goes for every country in the world. Independents retailers are facing a challenge which they could win by developing a strong identity, because they certainly can’t compete with big chains as regards prices. Therefore as regards FFANY the trend still remains positive
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Is the massive presence of department stores a good thing for the footwear business?
When I started out as a footwear buyer the department stores were respected but certainly didn’t play a central role. Today it’s different: fashion accessories are important, very import, and there are good profit margins to gain by those who sell them. I would consider it an inevitable and positive factor
What problems do you think the footwear sector will have to face in future to continue growing?
The most pressing problem is that of sourcing. Some 96% of shoes worn by Americans today are made in China, a country whose labour costs are increasing, making it less and less convenient to manufacture there. As I said, for the American market the fashion factor counts but never as much as price. There is talk of some who suggest bringing footwear production back to the United States but I believe these rumors are unfounded and it seems impossible. I wish it were and I’d support such choices but in America the whole industrial chain has disappeared (raw materials, machinery, know-how…) so I feel it’s impossible for that to happen
